In early 2010, businesses and consumers across the country were (understandably) wary of banking relationships. Riggs Partners and First Community Bank took that opportunity to expand the bank’s customer base.
From its founding 15 years ago, First Community Bank has stayed true to its mission of serving businesses and families in the Midlands of South Carolina. That commitment was steadfast during the recession, when banks all around them sought higher levels of fee income. “A time of financial uncertainty for our customers is not the time for us to raise banking fees,” said CEO Mike Crapps. That promise became the basis for a marketing strategy that significantly grew the bank’s customer base and its core deposits.
1. Share the “This is not the time to raise our fees” promise.
2. Offer potential customers a free fee comparison.
3. Make it easy to switch to First Community Bank.